"Look deep into nature, and then you will understand everything better." -Albert Einstein

BITCOIN vs. BREXIT

Previous to brexit a tremendous rise in the value of bitcoin has been seen. 12th of June the BTC went from 570 USD to 745 USD over the course of four days.

A few dumps were initiated, probably by unwitting BTC holders who are unaware of the global economic consequences following Britain’s exit from the EU and who only saw the rise in bitcoin as incentive to sell off.

At current time stock markets in Japan were in the red untill they were closed of completely.
The Pound has dropped 10%
The Euro has lost value towards the USD.
The USD is strenghened.
The Yuan is rising.
The bitcoin is tied to USD and Yuan and thus is also on the rise towards the EUR and GBP

I believe we will see a significant increase in value from the current: 643 USD to around 720 USD pr bitcoin within the coming weekend.

Monday the 27th of June will further dictate development. The main factor will be how fast and how efficiently EU can deal with the chaos that is ensuing after the exit of Britain. I suspect they will fail horribly and cause the EUR to drop further, allowing more and more people to invest in bitcoins. The same thing happened 3 years ago when Greece was in major financial trouble.

A level of around 720 over the weekend. Subsequently, keep an eye on the news, the worse it goes in the EU, the better it goes for the bitcoin 😉